Bank of New York Mellon Corp Sells 132,885 Shares of GE Aerospace (NYSE:GE)

Bank of New York Mellon Corp trimmed its position in shares of GE Aerospace (NYSE:GE - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,633,536 shares of the company's stock after selling 132,885 shares during the period. Bank of New York Mellon Corp owned about 0.62% of GE Aerospace worth $1,327,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sendero Wealth Management LLC raised its position in GE Aerospace by 526.6% during the 1st quarter. Sendero Wealth Management LLC now owns 15,008 shares of the company's stock valued at $3,004,000 after purchasing an additional 12,613 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of GE Aerospace by 2.9% during the fourth quarter. National Bank of Canada FI now owns 1,064,417 shares of the company's stock valued at $177,535,000 after acquiring an additional 29,844 shares in the last quarter. Global Assets Advisory LLC raised its holdings in shares of GE Aerospace by 186.7% during the first quarter. Global Assets Advisory LLC now owns 14,710 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,580 shares in the last quarter. Invesco Ltd. raised its holdings in shares of GE Aerospace by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the company's stock valued at $1,591,970,000 after acquiring an additional 1,204,910 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of GE Aerospace by 6.8% during the fourth quarter. Baird Financial Group Inc. now owns 3,042,562 shares of the company's stock valued at $507,469,000 after acquiring an additional 193,511 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on GE shares. UBS Group upped their price objective on shares of GE Aerospace from $207.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup decreased their price target on shares of GE Aerospace from $235.00 to $227.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company increased their price target on shares of GE Aerospace from $212.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Northcoast Research downgraded shares of GE Aerospace from a "buy" rating to a "neutral" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada set a $275.00 target price on GE Aerospace and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace has an average rating of "Moderate Buy" and an average target price of $223.75.

GE Aerospace Stock Up 0.8%

Shares of GE Aerospace stock traded up $2.03 during trading on Monday, hitting $248.91. The company's stock had a trading volume of 5,335,189 shares, compared to its average volume of 5,512,803. GE Aerospace has a 52 week low of $150.20 and a 52 week high of $260.55. The company has a fifty day simple moving average of $235.34 and a two-hundred day simple moving average of $206.79. The company has a market capitalization of $265.44 billion, a PE ratio of 38.71, a P/E/G ratio of 2.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. GE Aerospace had a net margin of 17.63% and a return on equity of 29.15%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Equities research analysts predict that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.58%. GE Aerospace's payout ratio is presently 22.40%.

Insider Buying and Selling at GE Aerospace

In other GE Aerospace news, SVP Mohamed Ali sold 1,602 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $200.67, for a total transaction of $321,473.34. Following the completion of the sale, the senior vice president directly owned 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert M. Giglietti sold 4,104 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $196.73, for a total transaction of $807,379.92. Following the sale, the vice president owned 11,540 shares of the company's stock, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

About GE Aerospace

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.